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Mar 23, 2013
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even with the debt ceiling back in 2011. half of our time between january and june, half of our time was not spent on ledge slayive business. in 2011, it was the fewest number of days we were in session since 1992 and it was coinciding with one of the events that created the highest level of policy uncertainty than any event in the last 20 years. that surpassed the wars, september 11th, just to name some major events. that debt ceiling debacle did more to disrupt the public's confidence in the integrity of the political process in washington. you have to make your elected officials accountable. you have social media. you can build an online community and you get a message multiplier. you can find out where your lawmakers are, are they in session five days a week? they should be working. these are things you can do right now. these are simple but concrete solutions. how can you deal with our ma
even with the debt ceiling back in 2011. half of our time between january and june, half of our time was not spent on ledge slayive business. in 2011, it was the fewest number of days we were in session since 1992 and it was coinciding with one of the events that created the highest level of policy uncertainty than any event in the last 20 years. that surpassed the wars, september 11th, just to name some major events. that debt ceiling debacle did more to disrupt the public's confidence in the...
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Mar 23, 2013
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you are going to have a debt ceiling debate when funding for the government runs out. president and white house wants to have a deal with some kind of tax increase and house republicans do not want to include that in any kind of package. they don't want the debt increases limited. secondly, there is talk about a grand bargain to get a new budget in place. >> gregg: how do you handicap that? >> i think this is one of better chances we've seen in a while. >> gregg: why, because the president is paying attention to his poll numbers which is dropping considerably? >> i think he is paying attention to congress. first term he ran against them for reelection campaign. he didn't want much to do with congress. he didn't work with them or invited them up to the white house. this is the first time we have soon signs of reaching across the 16 blocks to capitol hill. i think house republicans have come to the point where they really see that the american public is sick of what i would call crisis fatigue. every three to five months there is some crisis in congress and go down to th
you are going to have a debt ceiling debate when funding for the government runs out. president and white house wants to have a deal with some kind of tax increase and house republicans do not want to include that in any kind of package. they don't want the debt increases limited. secondly, there is talk about a grand bargain to get a new budget in place. >> gregg: how do you handicap that? >> i think this is one of better chances we've seen in a while. >> gregg: why, because...
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Mar 20, 2013
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maybe we get a debt ceiling fight down the road. washington still hanging on this economy to a great degree, it means the fed -- also nowhere near the unemployment target. there's nothing in the numbers to suggest the fed would be anything but completely dovish. >> sue? >> josh is going to join the conversation now. i think basically ben set it up for us perfectly. it does seem to be the u.s. fed versus the rest of the world. and once again mr. bernanke is presented with a crisis in another part of the world which may have to influence what he does here in the united states. >> that's exactly right. cyprus is going to play a big role in how he deals with europe. i think the fed wants to be curbs. if it's going to make any kind of move, it wants that move to be successful. that's going to be a guiding principle going forward. we have to remember there's a lot of forward looking events like that debt ceiling issue which is going to crop up in the middle of may. how we handle that will influence the economy going forward. we have to th
maybe we get a debt ceiling fight down the road. washington still hanging on this economy to a great degree, it means the fed -- also nowhere near the unemployment target. there's nothing in the numbers to suggest the fed would be anything but completely dovish. >> sue? >> josh is going to join the conversation now. i think basically ben set it up for us perfectly. it does seem to be the u.s. fed versus the rest of the world. and once again mr. bernanke is presented with a crisis in...
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Mar 21, 2013
03/13
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we were down two years ago when we had spain one and the first debt ceiling, we were down 10%. this week we're barely down at all, maybe a percent. every time we get through one of these and we will get through this, more and more investors become convinced that the category 10 earthquake has already happened. and long-dated assets like equities should be worth what we think they are worth based on long-term fair value assessments. we think the s&p should be trading 17, 18 times. >> let me get more personal, then, steve. are you a buyer, as we see any kind of cyprus-inspired dips like today, like recently, would you be a buyer? >> absolutely. we're recommending people be overweight eck witdquityequitie. that's what we would be doing here, mandy. i think jack's going to be waiting a long time. europe's going to have a series of these aftershocks, but it's part of the healing process. i think they will get through this cyprus thing. i think most european aren't even sure if cyprus is part of the eu. it's got this russian interest which makes it very unique. it's very different th
we were down two years ago when we had spain one and the first debt ceiling, we were down 10%. this week we're barely down at all, maybe a percent. every time we get through one of these and we will get through this, more and more investors become convinced that the category 10 earthquake has already happened. and long-dated assets like equities should be worth what we think they are worth based on long-term fair value assessments. we think the s&p should be trading 17, 18 times. >>...
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Mar 23, 2013
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the debt ceiling back in 2011. half our time in the senate between january and june, half of our time was not spent on legislative business. in fact in 2011 alone, it was one of the fewest number of days we've been in session since 1992 and here it was coinciding with one of the event that created the highest level of policy uncertainty of any event over the last 20 years, surpassing the wars, surpassing the financial crises, september 11th. just to name some major events. and that debt ceiling debacle did more to disrupt the public's confidence in the integrity of the political process in washington. so you have to make your elected officials accountable. have you social media, you can build an online community instantaneously and you get a message multiplier. by doing that you can find out where your law makers are. are they in session five days a week? they should be working. these are things you can be doing now. these are simple solutions but concrete ones. how can you deal with the issues of our day in two an
the debt ceiling back in 2011. half our time in the senate between january and june, half of our time was not spent on legislative business. in fact in 2011 alone, it was one of the fewest number of days we've been in session since 1992 and here it was coinciding with one of the event that created the highest level of policy uncertainty of any event over the last 20 years, surpassing the wars, surpassing the financial crises, september 11th. just to name some major events. and that debt ceiling...
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Mar 23, 2013
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and yet it is carried forward through this kind of trick of the budget control act, the debt ceiling deal, and all these straitjackets that have been put onto the process so that we are now two years later, even though there's not public support for it in any deep sense, it has been repudiated at the ballot box by a fairly significant majority, house, senate, and the presidential election, we have inherited this terrible policy which is going to cause needless pain and suffering. >> but it's like they've taken a machete to it across the board as oppose toed the many democrats who say, look, we know we need to make cuts in places. why not wield more of a scalpel to do it? what prevents them from doing that? >> there was this kind of weird politicalcle clati clalculation that the republicans tried to hand the president the scalpel back when the deadline was approaching and the president rejected it because he doesn't want to own the cuts. one of the things to understand about the politics is the republicans want cuts but they don't want to own them, and their biggest political goal is
and yet it is carried forward through this kind of trick of the budget control act, the debt ceiling deal, and all these straitjackets that have been put onto the process so that we are now two years later, even though there's not public support for it in any deep sense, it has been repudiated at the ballot box by a fairly significant majority, house, senate, and the presidential election, we have inherited this terrible policy which is going to cause needless pain and suffering. >> but...
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Mar 25, 2013
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the debt ceiling? >> debt ceiling. it's a continuing resolution. i guess that's been passed. >> already passed. >> the debt ceiling, which i think was anticnated august or september, last week, i haven't checked all of the details. the last time i checked in with this, way back when the republican senators had dinner with president obama,ists told that they didn't expect the debt ceiling issue to come to a head until august or september. so, they've kind of kicked the can down on the road on that one. it will be awhile. i suspects on the budget that will be the next big thing. >> one more time. you may have missed a few if you were out of town but michelle bachman gave a controversial speech at cpac where she went after the president for living a life of luxury in the white house including the fact that he had, you know, six-figured dog walker, dana bash from cnn tried to chase down michelle bachman. she had to chase her down running, michelle bachman running away. we will play a quick clip where she refuses to back up her charge about the dog walk
the debt ceiling? >> debt ceiling. it's a continuing resolution. i guess that's been passed. >> already passed. >> the debt ceiling, which i think was anticnated august or september, last week, i haven't checked all of the details. the last time i checked in with this, way back when the republican senators had dinner with president obama,ists told that they didn't expect the debt ceiling issue to come to a head until august or september. so, they've kind of kicked the can down...
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Mar 21, 2013
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the debt ceiling. if we do that, if we put a balanced budget amendment on the floor of the house and senate and if it passes i'll be ready to look at increasing the debt ceiling for the president. if that doesn't happen, i don't see a reason to raise the debt ceiling. let's stare him down on that until somebody gives in. we need to get this spending under control. and the irresponsible policies is not the way to go. obamacare needs to be repealed. we need to restore the rule of law in this country. we got to shrink down the welfare package that's out here. 80 different means tested welfare programs in the united states, just $2.5 trillion for the illegal component of this. a whole lot more if we don't get these entitlements under control. mr. speaker, the solutions are here. they are on this side of the aisle. they're actually in the platform. i endorse many of them. i appreciate your attention and i yield back the balance of my ime. the speaker pro tempore: the gentleman yields back his time. does the
the debt ceiling. if we do that, if we put a balanced budget amendment on the floor of the house and senate and if it passes i'll be ready to look at increasing the debt ceiling for the president. if that doesn't happen, i don't see a reason to raise the debt ceiling. let's stare him down on that until somebody gives in. we need to get this spending under control. and the irresponsible policies is not the way to go. obamacare needs to be repealed. we need to restore the rule of law in this...
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Mar 24, 2013
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. >> shannon: there are all kinds of fiscal issues with the budget, with sequester and the debt ceiling, not far off. have you offered a number of ways that you think the federal government could be cutting back. your office is good at looking at budgets and plans. you have note aid number of things that could have been done n. liu of closing the white house to public visitors, but did you have bipartisan crossover. >> i had bipartisan crossover because they're getting ready to run for election. there is a game play in the senate. this administration wants to show the american public that we can't cut $44 billion between now and september 30 without them experiencing massive pain. they have every intention to make it hurt to get the point that we need to spends every penny we are spending. which is absolutely ludicrous. it's a shame they are doing that because a lot of things -- we are going to have air traffic control towers shut down. they are not shut down because they are too expensive. on average, they cost $wo.3 million less per year to operate. they are shut down to come back wit
. >> shannon: there are all kinds of fiscal issues with the budget, with sequester and the debt ceiling, not far off. have you offered a number of ways that you think the federal government could be cutting back. your office is good at looking at budgets and plans. you have note aid number of things that could have been done n. liu of closing the white house to public visitors, but did you have bipartisan crossover. >> i had bipartisan crossover because they're getting ready to run...
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Mar 21, 2013
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we've got it coming up, the debt ceiling in may, and 27th of this month, we are running out of money. we've got to extend that as well. so i think those are the opportunities where you actually have cash on the sidelines, get in. >> then there's jim lacamp. you say when the music stops, forget about looking for a chair to sit in, get out of the room altogether. why? >> there are a lot of things we have to worry about, bill and maria. this cyprus thing is going to set some really strange precedents for the rest of the periphery. what's going to happen when they re-open these banks? we don't know. are people going to pull all their money out? i think they will. that's going to spill over to spanish and portuguese banks. if you could take your money across the street and put it in a german bank, why in the heck would you leave it in a spanish bank, a greek bank, a cyprus bank? you wouldn't. >> why would that push our stock market lower there, though? >> we have a stock market, bill, that's responding the to and improving global economy. everybody has thought, oh, europe is getting better
we've got it coming up, the debt ceiling in may, and 27th of this month, we are running out of money. we've got to extend that as well. so i think those are the opportunities where you actually have cash on the sidelines, get in. >> then there's jim lacamp. you say when the music stops, forget about looking for a chair to sit in, get out of the room altogether. why? >> there are a lot of things we have to worry about, bill and maria. this cyprus thing is going to set some really...
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Mar 21, 2013
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ceiling debates, they are going to have to shut the government down. we still take in 2.7 trillion, will pay for medicare, social security, will pay off our debt, the full faith and credit of the united states, but isn't that the only way that ryan's budget gets done? >> no, no, not at all. ryan's budget, you know, we're going to have a series of sequential battles. what's going to happen is the democrats in the senate are going to ultimately pass some kind of a budget resolution. i doubt it's going to be like this one. republicans in the the house are going to pass the budget committee resolution and these set levels for all of the appropriations committee allowing for protection and that is to say you can have expedited consideration of appropriations bills that fall under that level. the republicans are going to pass bills that have spending lower than the democrats. the democrats are going to have bills, they're higher than the republicans and then we're going to fight it out bill by bill by bill by bill through the balance of the year and see a cl
ceiling debates, they are going to have to shut the government down. we still take in 2.7 trillion, will pay for medicare, social security, will pay off our debt, the full faith and credit of the united states, but isn't that the only way that ryan's budget gets done? >> no, no, not at all. ryan's budget, you know, we're going to have a series of sequential battles. what's going to happen is the democrats in the senate are going to ultimately pass some kind of a budget resolution. i doubt...
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Mar 21, 2013
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that almost certainly means we're headed to a very big fight over the debt ceiling late they are spring, into the early summer. >> but tucked away in that continuing resolution are some hidden items on guns. making permanent some of the restrictions on the federal government's ability to regulate guns. they're not the major ones, but they were tucked away in there. when people aren't looking at the continuing president, the nra is still holding sway. >> well and andrea, you know, in the wake of newtown, i think we all grappled with the possibility that the politics surrounding gun control had been fundamentally changed. i would say what's happened in the months since then, stripping the assault weapons ban out, skepticism about background checks and high-capacity magazines, suggests that newtown may have changed things for a time, but it's possible it did not change broadly how the public thinks about gun rights, gun restrictions, you know, and et cetera. >> chris cillizza, thank you very much, see you later. and meanwhile, speaking of guns in colorado, the manhunt continues and widens
that almost certainly means we're headed to a very big fight over the debt ceiling late they are spring, into the early summer. >> but tucked away in that continuing resolution are some hidden items on guns. making permanent some of the restrictions on the federal government's ability to regulate guns. they're not the major ones, but they were tucked away in there. when people aren't looking at the continuing president, the nra is still holding sway. >> well and andrea, you know, in...
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Mar 24, 2013
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this is something that will come up again with the debt ceiling fight this summer. but if you look at what the senate just passed, this is as christina said, they want to raise taxes. >> guys, let's switch to gun control here. christina, there's mention of the push for the gun control measures. a new gun control law was signed into law described as tough but does not ban semiautomatic assault weapons. here's the governor today. >> i get the feeling right now around assault weapons is that it's hard to define what assault weapons is, whether the ten-year ban, the federal ban made a difference. >> so colorado can't pass a ban on semiautomatic assault weapons. do you take that as a sign it's not going to pass in any state? >> well, it's really hard to know. every state is different. but there is a huge question here. lawmakers feel a lot of pressure from gun lobbyists, gun rights groups and this is why the effort is so interesting. he says he's going to spend $12 million to really look at senators that might be persuadable, particularly those with strong gun rights cul
this is something that will come up again with the debt ceiling fight this summer. but if you look at what the senate just passed, this is as christina said, they want to raise taxes. >> guys, let's switch to gun control here. christina, there's mention of the push for the gun control measures. a new gun control law was signed into law described as tough but does not ban semiautomatic assault weapons. here's the governor today. >> i get the feeling right now around assault weapons...
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Mar 18, 2013
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and the republicans said, okay, we'll raise the debt ceiling is so the country doesn't default, but only if you agree to a dollar-for-dollar reduction in spending over the next decade. and so we got $2.5 trillion in spending restraint. not real cuts, spending less than obama had hoped in. in washington that's called a cut. if you wanted ten of something and you only got eight of something, you go i got cut too. actually, you walked away with eight. but, so that was a $2.5 trillion spending reduction over the next decade. it hasn't happened yet. we're still, we have several problems facing us. the trillion dollars in obamacare tax increases that hit this decade, that begin to hit now. oddly enough, the president and the democrats in the house and senate decided to put the tax increases, the bulk of them after the 2012 election. so everybody voted, and now the tax increases hit. it's not helpful for the economy, and i think it's going to be unpleasant for voters. >> host: ron's up next from watertown, south dakota, on the democratic line. good morning, ron. >> caller: good morning. >> gues
and the republicans said, okay, we'll raise the debt ceiling is so the country doesn't default, but only if you agree to a dollar-for-dollar reduction in spending over the next decade. and so we got $2.5 trillion in spending restraint. not real cuts, spending less than obama had hoped in. in washington that's called a cut. if you wanted ten of something and you only got eight of something, you go i got cut too. actually, you walked away with eight. but, so that was a $2.5 trillion spending...
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Mar 25, 2013
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one of the things we heard going back to the debt ceiling negotiations in the summer of 2011, john boehner saying in effect the president played loosesy and -- lucy and yanked football and was not keeping his word on obligations he said he would undertake. i wonder if joe biden going back to offer a at this time for at that time argument? would be interesting to for reporters would follow up. what were the five occasions? what were the specific deals and how did republicans back out at them? bill: what date did it happen and what did republicans supposedly promise you and how did they renege on that. >> right. bill: here is john boehner, 10 days ago, similar topic here. listen to the speaker. >> republicans want to balance the budget. the president doesn't. republicans want to solve our long-term debt problem. the president doesn't. we want to unlock our energy resources to put more americans back to work. the president doesn't. bill: he also said it will take more than dinner dates and phone calls. and that goes back to your point about the charm offensive. like, what is truly working her
one of the things we heard going back to the debt ceiling negotiations in the summer of 2011, john boehner saying in effect the president played loosesy and -- lucy and yanked football and was not keeping his word on obligations he said he would undertake. i wonder if joe biden going back to offer a at this time for at that time argument? would be interesting to for reporters would follow up. what were the five occasions? what were the specific deals and how did republicans back out at them?...
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Mar 22, 2013
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from there, a lot of the big stuff will go away and the next looming thing will be the debt ceiling. that is something we have not heard much about the last few weeks, but that is on the horizon. pete kasperowicz, thank you for talking with us. guest: sure, any kind. -- any time. >> expect a series of amendment votes. .ollow the senate on c-span two on c-span three, a group of middle east specialist will politics since the fall of hosni mubarak. divided between the muslim brotherhood and the secular opposition parties. the event is hosted by the rand corporation at 10:30 a.m. eastern on c-span three. yesterday, former u.s. ambassador to iraq dissipated in a discussion about the current political situation in .raq and there is factions the discussion included the former iraqi ambassador to the u.s. and a former ambassador to the iraq ambassador. the 90 minute discussion was hosted here in washington. >> ladies and gentlemen, good morning. i am jessica mathews. it is a pleasure to welcome you today to take stock 10 years after the launch of what turned out to be america's second- longe
from there, a lot of the big stuff will go away and the next looming thing will be the debt ceiling. that is something we have not heard much about the last few weeks, but that is on the horizon. pete kasperowicz, thank you for talking with us. guest: sure, any kind. -- any time. >> expect a series of amendment votes. .ollow the senate on c-span two on c-span three, a group of middle east specialist will politics since the fall of hosni mubarak. divided between the muslim brotherhood and...
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Mar 18, 2013
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ceiling is hit. i think that's the most fertile time for us. i think what republicans want to see, wolf, they want to see a 75-year actuary soundness. we want to make sure the programs are going to be there for the future. the president knows we want to make sure these programs are there, and what the presidents wants, obviously, is some additional revenue. i believe there's a possibility if we could get the 75-year soundness on medicare and social security with appropriate changes and reforms, i think there may be a way through full tax reform to do something that will generate revenue and fit the needs of both sides, and that's what i'm hopeful is going to happen over the next four months. look, there's no negotiation that's happening right now. there's some general discussions that have taken place, but i think the environment is going to be the best that it's been in the next several months. >> just to be precise, under certain circumstances to save social security and medicare over 75 years, you
ceiling is hit. i think that's the most fertile time for us. i think what republicans want to see, wolf, they want to see a 75-year actuary soundness. we want to make sure the programs are going to be there for the future. the president knows we want to make sure these programs are there, and what the presidents wants, obviously, is some additional revenue. i believe there's a possibility if we could get the 75-year soundness on medicare and social security with appropriate changes and reforms,...
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Mar 21, 2013
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ceiling, there's fiscal cliffs, there's all of thee things. yet if you look back at this past four years the economy has continue to grow. it is what we call the plow horse economy. it is not going to fall over. it is going to keep moving forward, productivity is improving. efficiency is improving and profitability is improving. and that's what's been driving the economy and the stock market. >> one last quick comment, chad. >> it is a big "but." brian is correct that the u.s. government -- u.s. economy's improving. but we still have fundamental issues in the structure of our economy, imbalances. we are not out of the woods yet. we're not in self-sustaining recovery. we need to start to see that to become increasingly more bullish on the financial markets. >> that was really good. you're a good double act. we should have you on more. thank you both. brian and chad. have great days. >>> seven years ago today twitter co-founder jack dorsey sent the first tweet writing just setting up my twitter. since then the media giant has become a staple for
ceiling, there's fiscal cliffs, there's all of thee things. yet if you look back at this past four years the economy has continue to grow. it is what we call the plow horse economy. it is not going to fall over. it is going to keep moving forward, productivity is improving. efficiency is improving and profitability is improving. and that's what's been driving the economy and the stock market. >> one last quick comment, chad. >> it is a big "but." brian is correct that the...
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Mar 22, 2013
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ceiling, some other republicans who were there actually walked out of the room. this year we did not have that. more willing to listen. wing of theextreme tea party typically does not attend the harvard new members conferences. [laughter] >> among economists, is very significant debate about your estimate, and if so, what are would we bees that doing that we would be tangling with you on? >> that is a great question. the original estimates came back to us early on from a former student of mine who was working in the administration and who is a brilliant student from omb. he called me and said i have been tasked with setting up a committee to scrutinize all the numbers in your book and to discredit them. i just want to let you know that. i said ok, fine. he came back to me six months later and said i want to tell you we have been through the book with a fine tooth comb. we cannot discredit any of the numbers because they are all on our own numbers. we are going to argue that it was worth it. during that time came out -- argument was not so much around the numbers.
ceiling, some other republicans who were there actually walked out of the room. this year we did not have that. more willing to listen. wing of theextreme tea party typically does not attend the harvard new members conferences. [laughter] >> among economists, is very significant debate about your estimate, and if so, what are would we bees that doing that we would be tangling with you on? >> that is a great question. the original estimates came back to us early on from a former...